KATHMANDU: The Ministry of Finance (MoF) and the Embassy of the Republic of South Korea signed two Memorandum of Understandings (MoUs) for the “Strengthening Stage-Wise Support System for the Stable Reintegration of Korea Returnee Migrants in Nepal” project and the “Establishment of Cyber Bureau with Capacity Building for Nepal Police” project. For the two projects, South Korea has agreed to extend grand assistance worth USD$ 16 million and USD 8 million respectively, to Nepal.
On Friday, both MoUs were signed by Krishna Hari Pushkar, Finance Secretary, and H.E. Chong-suk Park, Ambassador of the Republic of Korea to Nepal representing respective governments. The projects will be implemented by Korea International Cooperation Agency (KOICA) in close collaboration and coordination with respective line ministries and other government agencies, states a press release issued by the MoF.
Korea-returnee migrants support project aims to contribute to increasing employment by supporting stable reintegration of them through the enhancement of their entrepreneurship capacity. The project will also create a virtuous cycle and support system for the returnee migrants in Nepal for their enhanced information accessibility, and increased access to financial support through Agriculture Development Bank Limited (ADBL), the press release further says.
Under another grant assistance, Korea will support the construction of a state-of-art building for the Cyber Bureau, provide equipment related to the cyber-crime investigation and digital forensic lab, and capacity building of relevant human resources for the Nepal Police.
On the occasion, Finance Secretary Mr. Krishna Hari Pushkar highlighted the significance of these two projects in enhancing the capacity of the Cyber Bureau to control increasing cases of cyber-crime as well as reintegrating the returnee migrant workers to increase their employability in the home country.
During the event, H.E Chong-suk Park expressed hope that the Cyber Crime Control Project shall be an important support to strengthen the capacity of the Nepal Police to control cybercrimes in Nepal. Similarly, H.E Park stated that through the Korea Returnee Migrants project a large number of Korea-returnees can utilize their skills and establish enterprises, which can generate employment and contribute to the economic growth of the country.